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Pacira Pharmaceuticals(PCRX - Get Report) is a specialty pharmaceutical company focused on the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology, for use in hospitals and ambulatory surgery centers. This stock is trading up 9.4% at $13.21 in recent trading.
Today's Volume: 426,000
Average Volume: 229,980
Volume % Change: 149%
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From a technical perspective, PCRX is following through with upside momentum here after the stock started to breakout on Friday above some near-term overhead
resistance at $12.01. At last check, PCRX has hit an intraday high of $13.21 on volume that's well above its three-month average action of 229,980 shares.
Traders should continue to look for long-biased trades as long as PCRX is trending above Friday high of $12.29 with strong upside volume flows. I would consider any upside volume day that's near or above 229,980 shares as bullish. If we continue to see that action, then PCRX should easily trade north of $15 in the near future.